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Natwest 5yr fixed mortgage @ 2.02% is ending, any idea what the standard variable rate will be?
Was waiting on another mortgage offer to be agreed in principle last week but a problem has been flagged up and it could be a few weeks until the solicitor has the query checked and I'm worried about the increase in monthly payments. Any one any idea what the SV Rate might be from 1st July 2024. Thanks.
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Self employed mortgage
I'm self employed, my wife employed. If we were to apply for a mortgage would the lender require 2023/24 tax return to be filed? Is is it usual for a lender to run to HMRC deadlines for earnings info? I have nothing to hide and have consistent earnings year on year. Although in 2023/4 I purchased a replacement vehicle that…
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Guidance on remortgage
Hi Our mortgage is due for renewal. We had, probably like everyone else been hoping for a dramatic drop in rate but alas here we are and we have left it stupidly last minute The current amount outstanding is £197k We have £110k available to offset (merging two homes) Which would leave us with around £87k We were thinking…
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Borrowing More, Paying what???
Hi All, In October 2026 we need to remortage and get a new deal as our fixed term is over. We are thinking of borrowing more at that point to refurbish and extend the house. At that point we will have 11 years left on our mortgage, owing about 114,000. Our property value as it stands without extending is 350,000. Say we…
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HSBC mortgage overpayment advice
In January 2023 I fixed my mortgage for another 5 years with HSBC. I still had 6 months of the old rate at that time (the mortgage runs from June). As I had some spare cash, I also paid off the 10% I am able to pay. In January 2023 I was told that my new monthly payment from June 2023 would be £286 (or thereabouts). In…
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Guidance on best way forward with remortgage
Hi Our mortgage is due for renewal. We had, probably like everyone else been hoping for a dramatic drop in rate but alas here we are and we have left it stupidly last minute The current amount outstanding is £197k We have £110k available to offset (merging two homes) Which would leave us with around £87k We were thinking…
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Mortgage Overpayment or HTB Loan Payment
In 3 years time our HTB loan will have expired at 0% interest and therefore will have to start paying interest. Our mortgage is also up for renewal in 3 years time and therefore will be looking at remortgaging. Is it better to pay off your HTB loan or overpay your mortgage payments? we would be looking at moving house in 3…
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Moneybox and Kensington mortgages.
Hello, wondering if anyone can share their experience with me, if they have one. I’m in the midst of purchasing my first property with my partner, unfortunately my credit history isn’t great, due to being put in an unfortunate position around 6 years ago. I cleared off a large amount of debt over the past few years, and…
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My mum wants me to get a mortgage with her, advice please
So I’m 24 and I’ve never had a mortgage before. My mum wants me to go on a mortgage with her because she can not get one now due to her age and she has a CCJ for a parking fine ect, however she does have a really good credit rating and has never missed a payment. She wants to buy a house but she is short of the money as…
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Self employed mortgage
I have been a sole trader for 3 years, 1st year profit 19k second year £20, third year £41. I want to get a mortgage for £180000 will I need to wait to have another year of £41 or more earnings?
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Property share when splitting relationship
Hi, a basic question. Let's say I move into my partners house, and I start paying half the mortgage. If we split, would I be entitled to half of the amount *after* I have moved in. Here's an example: I move in in 1995 and the property is worth £100,000. I then pay half the mortgage for 30 years 2025, and the property is…
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Suffer SVR for 5 months to sync up 2 part mortgage
Part 1 £85k, 1.95%, £447/month, Ends 30/4/2025 Part 2 £120k, 1.94%, £629/month, Ends 30/9/2025 Currently the Chelsea SVR is 8.24% ( 3% higher than BOE) If BOE came down to 4.75 (by April) and SVR went to 7.74 then a spreadsheet I downloaded reckoned the 447 would jump to 706. so 259 more per month. For 5 months that would…
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RIO Mortgage or other options? Ill health
I'm looking for some advice from anyone in the know about this type of mortgage. I'm currently owing £67k on a house valued at approx. £240k. I'm 59 and working full time, earning £36k. My mortgage has 10 years 6 months to run. I want to look at switching to an RIO mortgage for various reasons - mainly because my health…
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Personal Mortgage issues and business insolvency
Hi, I am seeking some mortgage advice. I am a Director and shareholder of a small company in the South West. There are 2 Directors and the same people own 50% of the shares each. Due to our energy bills being so high due to a long contract we cannot get out of (thousands of pounds more than we should pay each month - a…
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Switching to joint ownership
I currently own my house with around 50% of the value left on the mortgage. My partner is looking to buy but cannot afford anything suitable, I am also looking to extract value from the property to buy some land and start a new business venture (before he moved in I was considering downsizing or let to buy). Is it possible…
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How does porting a mortgage work?
We have listed our property for sale with the intention of porting our mortgage across. I have rung two estate agents to book house viewings and both of them have been very insistent in me sitting with their mortage advisor, even though I have told them we intend to port our mortgage. They kept talking about possibly…
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Moving home- should i pay off debt or have larger deposit
We're currently in the process of upsizing Expected equity is £120,000 Minus moving costs, SDLT etc £20,000 Leaves us with £100,000 deposit for the new home New home is £500,000 I currently have personal loans and credit card debt of £15,000, which im paying off £700 per month What im struggling with, should we pay off the…
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Auction property valuation issues
Hi all,Basically I've paid for my deposit, along with the estate agents fees, to an auctioned property. The issue I'm having is NatWest have come back with the following in regards to their valuation. Please note the first sentence where it doesn't actually state the "Evidence of". Of what exactly?I've been in touch and…
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offset mortgage
I took out an offset mortgage many years ago. This runs alongside a bank account to offset interest etc.I did use the bank account, and it did have a balance, but as I never used it for quite a while the bank shut the account, taking away my option to offset.At the time it was a very lean time and what little money I had…
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Being blocked from Repaying a Equity Release loan on death of parents
Looking for some advice/guidance as I find myself in a slightly frustrating position. My parents took out an equity release on their property about 10 years ago. They have both recently died but there is the slight complication that the 2 executors listed on the will have decided they don't want to perform the role. They…